The Supreme Court Reverses the Ruling of the Employee Retirement Plan Lawsuit Against Northwestern University

At a glance The main takeaway: The Supreme Court reversed the dismissal of the employee-led lawsuit against Northwestern University reaffirming the duties of a retirement plan sponsor.   Impact on your business: It’s crucial for any company that offers a retirement plan to employees to establish a written process that outlines how they monitor funds…

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How a Top Furniture Business Found a New Bank on the Path to Growth

At a glance The main takeaway: When managing rapid growth, some businesses may need extra services and support than their existing bank can offer, leaving them searching for a new institution that can step in to help. Impact on your business: Bank relationships are important to strategic, successful growth. Finding an institution that can meet…

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Top Tech Company Retirement Plan Options That Attract Top Talent

Attracting and retaining top talent is a ubiquitous challenge for tech companies and startups, an industry where competition is fierce and cash flow may be limited. In light of these challenges, businesses in the technology industry often look for creative solutions to further boost their compensation packages. We previously discussed the value of equity incentives…

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IRS Issues New Relief and Guidance for CARES Act Retirement Plan Provisions

On June 19, 2020, the Internal Revenue Service (IRS) issued Notice 2020-50 which helps individuals affected by COVID-19 take advantage of CARES Act provisions allowing access to retirement accounts via distributions and loans. The Notice broadens the definition of a Qualified Individual for purposes of Coronavirus Related Distributions (CRDs) and enhanced loan provisions. The definition…

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The SECURE Act Passed – What does it mean for you?

By Michael Saulnier, Director, Retirment Plan Services On Dec. 20, 2019, President Trump signed a new Act into law that aims to expand and strengthen retirement solutions for workers across the country. This new legislation called the SECURE Act (an acronym for “Setting Every Community Up for Retirement Enhancement”), triggers significant changes for both existing…

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Spending Bill Extends Tax Breaks, Adds Retirement Account Provisions

With its winter recess looming before it, Congress has engaged in a flurry of activity. Most notably, it reached agreement on a massive governmentwide spending package titled the Further Consolidated Appropriations Act, 2020. The legislation extends certain income tax provisions that had expired, as well as some that were due to expire at the end…

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